The following is the unedited transcript of the news release from the Department of Commerce.


The U.S. Census Bureau of the Department of Commerce announced today that construction spending during January 2008 was estimated at a seasonally adjusted annual rate of $1,121.5 billion, 1.7% below the revised December estimate of $1,140.4 billion. The January figure is 3.3% below the January 2007 estimate of $1,160.2 billion.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $827.4 billion, 2.2 percent (±1.1%) below the revised December estimate of $845.7 billion. Residential construction was at a seasonally adjusted annual rate of $455.8 billion in January, 3.0 percent (±1.3%) below the revised December estimate of $469.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $371.6 billion in January, 1.2 percent (±1.1%) below the revised December estimate of $376.0 billion.

PUBLIC CONSTRUCTION

In January, the estimated seasonally adjusted annual rate of public construction spending was $294.1 billion, 0.2 percent (±1.8%) below the revised December estimate of $294.7 billion. Educational construction was at a seasonally adjusted annual rate of $85.9 billion, 0.6 percent (±3.5%)* above the revised December estimate of $85.4 billion. Highway construction was at a seasonally adjusted annual rate of $77.5 billion, 1.3 percent (±4.3%) below the revised December estimate of $78.5 billion.


Available at:

http://www.census.gov/const/C30/release.pdf